Singaporean CPO Charge+ closes multi-million-dollar funding round
According to the Singaporean charge point operator, the funds raised will be utilized to support Charge+’s ongoing expansion efforts of its EV charging infrastructure throughout Southeast Asia. The funding round was led by Trive Venture Capital. In its press release, Charge+ also points to the growing demand in Asia, which it seeks to meet: “In Singapore alone, the government has announced a target of 60,000 EV charging points by 2030.”
“Since founding Charge+ in 2018, our vision has been to catalyze electric mobility adoption across Southeast Asia,” said Ong Tze Boon, Chairman of Charge+, adding: “The successful completion of Series A financing represents another exciting milestone in accelerating our growth across this region. We are therefore pleased to add TNB Aura as our new investor, after TRIVE as the lead investor in Series A.”
A partnership was recently also announced with Porsche, which intends to build a high-power charging network together with Charge+ in Vietnam. A roaming agreement was signed with the Malaysian charge point operator ChargeSini, which brought their collective charging point number to 4,000, across Singapore and Malaysia. Charge+ had initially made headlines with the presentation of an ‘ultra-slim’ charging station back in 2020, before the company won a public charging tender in 2022, under which 4,000 charging stations were to be installed and maintained in Singapore.
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